Sunday, April 08, 2012

Lose a Smartphone, And You Lose a Lot

The Wall Street Journal reports:
How much does it cost to lose a smartphone? One of our readers found out the hard way. Her iPhone was stolen while she was on public transit. She didn't have phone insurance, her renter's insurance didn't cover the loss, and she was told if she canceled her phone contract, she would be liable for a hefty early termination fee. In the end, she paid a small fortune and learned a big lesson.

Some 60 million smartphones and cellphones are lost, stolen or damaged each year, according to Asurion, a provider of cellphone insurance.

Your total cost will depend on your carrier, what kind of device you have, and whether you're willing to settle for a reconditioned, used device or want a new smartphone.

If you lose your top-of-the-line iPhone, say, and want to replace it with the same device—and you aren't eligible for an upgrade anytime soon—you could pay as much as $849 for the device alone.
You'll want to read the whole article.